The opposition Tories are calling on the NDP government to immediately withdraw an application to boost Manitoba Public Insurance rates.
MPI is seeking a 3.4 per cent rate increase despite turning a $14.2-million profit in the first quarter of 2014.
“Why should Manitobans be asked to pay more when MPI profits are healthy?” said Kelvin Goertzen, MPI critic for the Progressive Conservatives. “The MPI profits show that the rate increase is unnecessary and just another example of the NDP wanting Manitobans to pay more for everything.”
But MPI says it remains cautious given the severity of insurance claims stemming from harsh driving conditions over the past winter, the ongoing volatility of interest rates and its
nearly depleted rate stabilization reserve fund.
“We are committed to keeping rates stable for all Manitobans over the long term,” said Heather Reichert, vice-president, Finance and Chief Financial Officer for the public insurer.
The PCs point out that MPI’s claims costs for the first quarter decreased by $26.6 million compared to the same period in 2013.
—With files from Progressive Conservative Party of Manitoba and MPI news releases
